Sunday, June 30, 2024

Fintechs' secure credit play; New Jersey turns IT hub

Happy Monday! Fintech companies like Cred, PhonePe and Paytm are seeking partnerships with NBFCs to enter the secured credit market. This and more in today’s ETtech Morning Dispatch.

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Hyderabad esports event makes itself heard amid World Cup din

Even as the country watched the thrilling T20 World Cup final on Saturday, a separate kind of event was unfolding in Hyderabad with a 1,000-person strong crowd cheering the champions of the Battleground Mobile India (BGMI) series.

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F&B, quick commerce log 40-50% sales jump on T20 final night

India’s nail-biting final match with South Africa on June 29 and the eventual historic victory drove up sales and revenues of food and beverage (F&B) companies as well as quick commerce firms. Merchant checkout network Simpl said it saw a nearly 40% increase in consumer spending on its platform during the match.

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Saturday, June 29, 2024

Haryana Constable Recruitment 2024: HSSC Reopens Applications for 6,000 Posts: Check Eligibility and Selection Details Here

The Haryana Staff Selection Commission (HSSC) has reopened applications for 6,000 constable positions in Haryana Police following revised CET results. Candidates can apply from June 29 to July 8, 2024. Previous applicants need not reapply, but socio-economic criteria claims will be removed. The selection includes a physical test and a Knowledge Test. Eligibility requires 12th-grade completion and specific age criteria, with reserved category relaxations.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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NEET UG Re-Exam 2024 Results Expected Today at neet.nta.nic.in

The NTA is expected to release the results today for the NEET UG 2024 re-exam taken by 813 students. These candidates received grace marks in the original exam that were later scrapped. They could choose to retake the exam or keep their original scores without the grace marks. The original exam results were controversial due to allegations of leaks.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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JNTU Closes AP ECET 2024 Counselling Registration Today: Apply Here

JNTU will close the AP ECET 2024 counselling registration today. Eligible candidates can apply online until midnight, with document verification running until July 3. The option entry process starts tomorrow, July 1, and ends on July 4. Applicants must pay a fee of Rs 1,200 (OC/BC) or Rs 600 (SC/ST) and submit various documents for verification.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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AI: the supercharger for India’s MSMEs

Artificial intelligence is not only reshaping India’s landscape, but also fostering economic growth through innovative tech solutions. According to Stanford University’s annual AI Index report, India saw the fifth highest investments last year in startups offering AI-based products and services.

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Friday, June 28, 2024

Ecommerce space heats up; and other top tech, startup stories this week

Welcome to another edition of ETtech Unwrapped – our weekend newsletter. It has been a packed week for ecommerce and quick commerce news. The previous weekend began with Zepto scooping up $665 million in funding, at more than double its last valuation in 2023, which is a pivotal moment for the sector.

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Food Inc eyes quicker commerce on match day

With India battling South Africa in the T20 World Cup final this Saturday, quick commerce, food delivery services, restaurants, and brands are bracing for a massive order spike. As fans cheer on the Men in Blue, bars and restaurants screening the match anticipate packed houses and a jump of 20% to 50% in online sales.

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C V Raman Global University, Odisha and Bajaj Auto Ltd. Partner for a Skilling Initiative



from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Thursday, June 27, 2024

High taxes, selective bans drive 30% growth in illegal online gambling in India, says study

The illegal betting market, already thriving in India, is expected to grow by 30% in the coming years, as per a new study. Inadequate legal frameworks, selective banning, and high taxation on legitimate online gaming platforms seem to be key factors contributing to this trend.

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Synopsys will help Tata Electronics design custom chips

US-based chip design company Synopsys will help Tata Electronics in multiple aspects of its fab facility—India’s first—coming up in Gujarat and its assembly and testing unit in Assam, chief executive Sassine Ghazi told ET. Ghazi also met with Tata Electronics CEO Randhir Thakur and Tata Sons chairman N Chandrasekaran in Mumbai. He held talks with Ola Cabs chief Bhavish Aggarwal in Bengaluru.

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Sellers on Flipkart facing issue in changing price, firm denies any intervention in pricing

The Walmart group firm, however, denied any role in influencing pricing on the platform and said that it is working with sellers to help them understand the new rate card policy.

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Wednesday, June 26, 2024

BigBasket, 1mg’s plans for capex; win for epharmacies in Madras HC

Tata’s online grocery BigBasket and epharmacy 1mg will largely depend on debt capital to fuel expansion this fiscal. More on this in today’s ETtech Morning Dispatch.

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Aris Infra plans to raise Rs 600-700 crore via IPO

Aris Infra, a Mumbai company using technology to streamline construction material procurement, is planning an IPO to raise Rs 600-700 crore. The company has attracted investment from prominent individuals and prestigious financial institutions including Think Investments, TPG Capital, Temasek, and BlackRock.

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Tuesday, June 25, 2024

Hunt on for mule bank accounts; Tata Digital pause on funding

The government is working with the central bank to catch mule accounts in India’s banking system and prevent fraud. This and more in today’s ETtech Morning Dispatch.

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Centre eyeing one startup in every district by next year

The government is optimistic about its plan to have at least one registered startup in all 785 districts of the country, industry department officials said. With only 20-25 districts remaining without a startup, the goal is expected to be achieved within a year.

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Hackers breach BSNL again, second time in six months

This is the second tine in six month where BSNL has suffered a data breach. Athenian Technology chief executive kanishk Gaur told ET, the breach involved more than 278 GB of data from the state-owned telecom operation, including server snapshots, which can be misused for SIM cloning and potentially more severe criminal activities like extortion.

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Monday, June 24, 2024

Women-focused fintech startup Lxme raises $1.2 million from Kalaari Capital, others

Focused on women's finances, Lxme has secured $1.2 million in seed funding. Kalaari Capital led the round through its CXXO initiative, backing female-led businesses. The startup will capital for brand building and user acquisition across the country.

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Cloudphysician raises $10.5 million in funding round led by Peak XV Partners

Online healthcare and technology solutions provider Cloudphysician has raised $10.5 million (about Rs 87.7 crore) in a funding round led by Peak XV Partners, along with Elevar Equity and venture debt firm Panthera Peak. The startup will use the capital to strengthen its presence in India, enter other countries and develop its AI platform.

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Sunday, June 23, 2024

Genesys International set to launch its AI-powered maps

Genesys International is set to launch AI-powered navigation maps for the mobility markets, featuring a navigable road network in India covering 8.3 million kilometers and over 30 million points of interest.

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Ecommerce sellers count on cash-flow gains from GST cut

Recommendations by the GST council aim to benefit suppliers on online platforms and real money gaming firms through tax changes, including a reduction in tax collected at source for electronic commerce operators.

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Saturday, June 22, 2024

NEET PG exam postponed, NTA chief sacked: 7 major developments you should know about

The NEET-PG exam has been postponed due to alleged irregularities, with the Health Ministry mentioning a CBI probe. The NBE-conducted exam faced allegations of a paper leak, leading to reforms and investigations. Subodh Kumar Singh was placed on wait, and Bihar Police detained individuals linked to the leak, including Sikandar Yadavendu, amidst protests.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Cool beans! cafes are having a field day this summer

National chains such as Third Wave Coffee, Chaayos, AbCoffee, and Boba Bhai have seen a notable increase in foot traffic at their cafes, particularly in northern India, despite the region grappling with record summer temperatures. These cafes are also experiencing increased demand for summer-specific items through delivery services. Also, their appeal as hubs for remote work and meetings is further boosting footfalls.

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Friday, June 21, 2024

NTA postpones Joint CSIR-UGC-NET exam due to 'unavoidable circumstances' as well as 'logistic issues'

The National Testing Agency (NTA) has postponed the Joint CSIR UGC NET 2024 exam, surprising candidates. The postponement adds pressure to the central education ministry amidst the NEET paper leak controversy. The CSIR UGC NET exam is crucial for determining eligibility for various academic positions. Candidates should stay updated on the revised exam dates through the official website. The decision to postpone another major national exam has added to the uncertainty faced by aspiring researchers and students.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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A pivotal event for online commerce; and other top tech, startup stories

Stay tuned to know how the latest capital infusion into Zepto impacts the workings of this fledgling sector.

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US proposes targeted restrictions for AI, tech investment in China

The U.S. proposed rules to regulate investments in China to prevent sensitive technology development, supported by Treasury Assistant Secretary Paul Rosen.

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Thursday, June 20, 2024

Nvidia loses top spot to Microsoft after 3% drop

Nvidia, whose market capitalisation surpassed that of Microsoft on Tuesday, was set to lose around $91 billion to its last closing market value of $3.34 trillion, at the current level of $131.88.

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Credit card bill payment hurdles; startup funding logs slight uptick

Happy Friday! The central bank has mandated credit card bill payments through Bharat Bill Payment System (BBPS), but only eight of 34 banks are live on the network, causing concern among payment companies. This and more in today’s ETtech Morning Dispatch.

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Premium luggage maker Eume raises Rs 15 crore in funding round led by Ashish Kacholia

Eume plans to open its first flagship store this year, starting in Mumbai and tapping the aspirational population in tier II and III cities are among the company's top priorities. The Mumbai-based luxury brand offer diverse products like luggage, vegan handbags, and accessories, among others. Eume's sales are split equally between its own website and marketplaces.

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Wednesday, June 19, 2024

US billionaire eyes TikTok takeover to save internet from Big Tech

Frank McCourt, a US real estate billionaire, aims to buy TikTok to rescue the internet from the clutches of major platforms that he firmly believes are destroying society and endangering children. To address the problem, McCourt is campaigning for a "new internet" which, he claims, would wrest control of the web away from major platforms like Instagram, YouTube, TikTok, or X. "These platforms have hundreds of thousands of individual attributes about each of us.

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Infosys’ flexi stance helps staffers avail more remote work options

Infosys, India's second largest IT company, has embraced a flexible approach to returning to office post-pandemic. Employees leveraged remote working options in FY24, as per the ESG report. In FY24, 84% of Infosys employees worked remotely, compared to 75% in FY23 and 97% in 2022 during the pandemic.

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Tuesday, June 18, 2024

TechM to leverage M&M's network via cross selling

M&M aims to unlock Tech Mahindra's potential through cross-selling and synergies within the group. Tech Mahindra, India's fifth largest IT firm, plans to leverage group relationships for expansion.

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MeitY meets firms to review concerns on Digital Competition Law

Indian policymakers discussed the impact of the proposed Digital Competition Bill on data and digital markets at the MEITY meeting with industry representatives. Stakeholders had differing opinions on the regulations, with some supporting its provisions while others raised concerns about deterred investments.

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Monday, June 17, 2024

GreyLabs AI mops up $1.5 million in funding round led by Matrix Partners India

Ofbusiness founder Vasant Sridhar, MoEngage founder Narasimha Reddy, Uni Cards founder Nitin Gupta, and Scapia founder Anil Goteti, among others who participated in the funding round for the speech analytics platform for financial institutions.

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VC funds, angel investors seek safeguards in spousal partnerships

In many instances, founders often name their spouses as cofounders at the time of the inception of their venture. However, if the spouses choose to part ways after a few rounds of funding, at that time, dealing with that separation becomes messy for investors as they have to deal with disgruntled spouses who are also shareholders of companies.

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Sunday, June 16, 2024

Zomato confirms discussions to acquire Paytm’s movies, ticketing business

Zomato confirmed in a stock exchange filing that it is in talks to acquire fintech Paytm's ticketing business, as reported by ET on June 16. The company added that "no binding decision" has been taken about the deal at this point. The deal could value the Paytm vertical at around Rs 1,600-1,750 crore.

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Zomato-Paytm ticketing deal; Oyo’s Rs 1,000-crore funding

Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking and events business. Details on this, and more in today’s ETtech Morning Dispatch.

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Deep-tech policy before cabinet soon to unlock long-term funds

The government plans to introduce a deep tech startup policy with a fund of funds for companies in the sector. An umbrella framework will guide state governments and startups. The policy will focus on research, development, innovation, intellectual property, and funding access for deep tech startups.

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Saturday, June 15, 2024

300 Women Scientists to Receive Research Grants Under CSIR-ASPIRE Scheme

Science and Technology Minister Jitendra Singh announced that 300 women scientists will receive three-year research grants under the CSIR-ASPIRE scheme, aimed at empowering women in science. He emphasized promoting ease of living through technological innovation, highlighting the government's support for women scientists with 3,000 proposals received and 301 selected after rigorous evaluation. Singh also urged scaling up the Seaweed Mission for sustainable economic growth.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Startups’ pink slip count falls to 10,000 amid funding blues

Firing in first half of 2024 lesser than H2, H1 of ’23, signalling a slight recovery. Ola Electric is in the final stages of laying off over 600 after sister company Ola Cabs fired around 200 workers in late April. Industry executive told ET, even with the slowdown in layoffs, startups are still not out of the woods.

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Friday, June 14, 2024

Third-party firms look to sort out logistics of quick commerce race

Third-party logistics firms like Delhivery and Xpressbees are venturing into the quick-commerce sector to support platforms such as Swiggy Instamart, Blinkit, and Zepto as demand surges.

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US court levies $194 million penal charges on TCS for misappropriation of trade secrets

A US court ruled TCS liable for misappropriation of trade secrets, penalizing around USD 194 million. TCS to appeal. Ordered to pay damages and face injunctions, but expects no major financial or operational impact.

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UGC NET Admit Card for June 2024 Session OUT: Direct Link to Download Hall Tickets

UGC NET admit card for June 2024 session has been released tonight on the official website ugcnet.nta.ac.in. The exam will be conducted across multiple centres in the country on June 18. Read on for the direct link to download UGC NET hall ticket 2024 and know what details aspirants need to check for errors.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Thursday, June 13, 2024

NEET UG 2024: Candidates demand re-exam for all, deeper probe into alleged irregularities

The Supreme Court's decision to cancel the scorecards of 1,563 NEET UG candidates who received grace marks has sparked discussions on fairness and transparency in the examination process, with calls for re-examination to provide equal opportunities for all students.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Mumbai in line to house govt’s animation centre of excellence

The government plans to establish a National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, and Comics (AVGC) in Mumbai, along with proposing an AVGC policy to boost the sector's growth and unlock its potential.

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Wednesday, June 12, 2024

Tata Communications secures five-year contract with World Athletics

Tata Communications signed a five-year contract with global sports organization World Athletics, expanding its media business by adding over 20 international events. Dhaval Ponda, Global Head of Media and Entertainment Services at Tata Communications, highlighted the significant viewership of World Athletics events.

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Tuesday, June 11, 2024

Ashwini Vaishnaw, Jitin Prasada take charge of electronics and IT ministry

Ashwini Vaishnaw took charge as the union railway minister, minister of information and broadcasting, and Union minister of electronics and information technology. Jitin Prasada is the minister of state for electronics and information technology, succeeding Rajeev Chandrasekhar after switching from Congress to BJP.

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India's EU-like antitrust law worrying technology firms

India's proposed antitrust law, influenced by a panel report, targets tech giants with global turnovers exceeding $30 billion. The law aims to prevent market concentration, similar to the EU's Digital Markets Act.

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Monday, June 10, 2024

In 2 years, market will sort out high quality companies: Rubrik cofounders

Rubrik, backed by Microsoft and venture funds like Lightspeed and Greylock Partners, is trading with a market cap of $6 billion. Its IPO success opens doors for more US listings, emphasizing its quality, scale, and durability potential. Rubrik cofounders Bipul Sinha and Arvind Nithrakashyap talk about the company’s road to the IPO and more.

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GCC’s share in GDP to double by 2030 with a size of $100 billion

The share of global capability centres (GCCs) in India’s GDP is expected to double to 2% by 2030, according to a note shared by ICICI Securities. These offshore units of multinational companies collectively generate about $46 billion in revenue, which is likely to touch $100 billion by FY30. The GCC sector grew by 11% between 2015 and 2023. The scaling up of GCCs in India is impacted by global headwinds affecting parent companies.

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Indian D2C brand market poised to hit $61.3 billion by FY27

The Indian D2C market is set to triple to $61.3 billion by FY27, with a 38% compounded annual growth rate driven by macroeconomic factors like rise in per capita earnings. The market is expected to create 10 million jobs in the retail sector by FY27.

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Apple unveils 'Apple Intelligence' AI

Apple on Monday unveiled "Apple Intelligence," inserting artificial intelligence capabilities into the software powering its coveted lineup of devices. "Recent developments in generative intelligence and large language models offer powerful capabilities that provide the opportunity to take the experience of using Apple products to new heights," Apple chief executive Tim Cook said as he opened an annual Worldwide Developers Conference.

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Sunday, June 9, 2024

Ice cream brand Hocco secures Rs 100 crore, valuation hits Rs 600 crore

Ahmedabad's Hocco has secured fresh funding of Rs 100 crore (approximately $12 million). Led by the founding Chona family and existing investor Sauce VC, the round valued Hocco at Rs 600 crore. The deal also attracted angel investors like Bollywood filmmakers Ritesh Sidhwani and Farhan Akhtar. The company projects revenue to reach Rs 200 crore by March 2025.

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IT companies go startups way, appoint chief growth officers

Facing a cautious market and clients tightening their purse strings, IT companies are adopting a strategy from startups and web commerce: creating a new C-suite role – the chief growth officer (CGO).

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TN law to place time, user curbs on all online games

Tamil Nadu is considering a law to regulate online and real money games, with restrictions on playtime and usage, mirroring the central government's approach. This is being spearheaded by Tamil Nadu Online Gaming Authority (TNOGA); a five-member regulatory authority formed in August 2023.

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Fino Payments Bank eyes tripling digital banking revenue by FY25

Fino Payments Bank sees an opportunity in the digital banking space after Paytm Payments Bank's exit. To capitalise on this, they're ramping up their digital offerings, aiming to grow their digital revenue share from 5-6% in FY24 to 15% this fiscal year.

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Saturday, June 8, 2024

JEE Advanced 2024 Result declared, Ved Lahoti tops with 355 marks: Direct link to download scorecards

IIT Madras has released the JEE Advanced 2024 Result today, June 9. Candidates can access their JEE Advanced 2024 Result scorecards on jeeadv.ac.in. The JEE Advanced 2024 was held on May 26th, had Paper 1 from 9 AM to 12 PM and Paper 2 from 2:30 PM to 5:30 PM. The final answer key is also available. Follow steps on the website to check results. JoSAA will commence counseling for admissions based on JEE Advanced 2024 result rankings starting June 10.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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JEE Advanced 2024 Result today: When and how to check?

The Indian Institute of Technology Madras (IIT Madras) will announce the JEE Advanced 2024 result today at 10 am on June 9. Candidates can check their scores and the final answer key on the official website, jeeadv.ac.in, by entering their roll number. Exam was held on May 26, 2024.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Data storage cos in a sweat over need to stay cool

Data centers in western and northern India are facing rising operational costs due to soaring temperatures. Firms like Yotta and CtrlS are using alternative cooling methods and renewable energy, while ESDS reports a 10-12% rise in power costs due to erratic grid supply. Several of these data centres are located in New Delhi, Haryana, Noida.

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Meta hit with privacy complaints over AI plans

A Vienna-based privacy group filed complaints against Meta in 11 European countries over unlawful AI data use. Microsoft announced a $3.2 billion AI investment in Sweden over two years, AMD unveiled new AI chips to challenge Nvidia, and Cisco plans a $1 billion investment in AI startups for secure AI services.

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Friday, June 7, 2024

New York lawmakers pass measure to protect youths on social media

New York state lawmakers passed legislation to protect children online by restricting social media platforms from exposing 'addictive' content to users under 18 without parental consent.

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Maharashtra WRD Jalsampada Result 2024 Out: Check direct link to download PDF here; Document Verification Starts June 18

The Maharashtra Water Resource Department (Jalsampada Vibhag) has released the WRD Jalsampada Result 2024 on June 7, 2024. Candidates who appeared in the recruitment exam can check their results and the list of shortlisted candidates for document verification, scheduled from June 18, 2024, on the official website, https://ift.tt/ps9MLlG. The recruitment aims to fill 4497 vacancies for various Group B and C posts.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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IPOs of Walmart's Flipkart, PhonePe could take couple of years: Walmart executive

Walmart's Flipkart marketplace and PhonePe digital payments platform could have IPOs in the next couple of years, as stated by Walmart's executive, Dan Bartlett.

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Surprise poll results impact startups' plans, and other top stories this week

In a week charged with political buzz, the BJP government came back to power after a stormy election, but without a full majority that left it dependent on the whims of its alliance partners. Unnerved, the markets went into a tailspin on counting day, with both benchmark indices, Sensex and Nifty50, dropping 8% intraday. They recovered a day later as hopes of a stable government revived.

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Thursday, June 6, 2024

IPO-bound cos wary after poll results; NBFCs’ balancing act

Happy Friday! New-age firms planning to go public are moving cautiously as stock market volatility remains a concern after the 2024 general election results. This and more in today’s ETtech Morning Dispatch.

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Will use AI tools to tackle growing instances of spam on WhatsApp: Meta’s Nikila Srinivasan

“From WhatsApp’s perspective, a core principle we follow is that anything has to be reliable and private. Anything that invades our privacy does not have any space on the platform. Our expectation from the businesses is that they have explicit permission before they reach out (to users),” Nikila Srinivasan, the company’s vice president of business messaging, told ET.

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Prosus stake in Byju’s worth zero: HSBC

This comes at the time of Byju's controversial $200 million right issue at 99% discount to its peak valuation of $22 billion, meaning any investor not investing in the rights issue will see its holding wiped off.

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Wednesday, June 5, 2024

Nvidia's stock market value surpasses $3 trillion

Nvidia's stock price has more than doubled this year and it's now the third most valuable company in the S&P 500. The company is also about to undergo a stock split and has seen soaring demand for its semiconductors.

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Startups’ new hiring strategies; unprecedented poll buzz online

Happy Thursday! While layoffs continue, startups are strategically refilling certain open positions with lower-salaried junior staff to cut costs. This in today’s ETtech Morning Dispatch.

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Money you paid for Gaza may be heading to Ghaziabad instead

Online scamsters are using the viral ‘All Eyes on Rafah’ campaign as an opportunity to dupe people who want to lend a helping hand or donate to victims of the war in Gaza. The most common scams related to Gaza include fake websites, fake cryptocurrency links, phishing emails, fake video links, and social media scams.

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Nvidia on verge of overtaking Apple as No. 2 most valuable company

The latest rally in Nvidia comes as it prepares to split its stock ten-for-one, effective on June 7, a move that could increase its appeal to individual investors.

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Tuesday, June 4, 2024

Google's privacy chief to exit

Google's chief privacy officer, Keith Enright, is leaving the company this fall after 13 years. The departure is part of a broader reorganization within the privacy teams amid heavy government scrutiny over privacy issues.

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JEECUP 2024 examination from June 13: Check Exam Pattern, Duration, Marking Scheme, and More

The JEECUP 2024 exam will be held from June 13 to June 20, with reserve dates on June 19 and 20. The application window, which opened on January 8, 2024, closed on May 10, 2024. The exam, lasting 150 minutes, will feature 100 multiple-choice questions with a marking scheme that awards 4 marks for each correct answer and deducts 1 mark for each incorrect answer.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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IT CEOs' salary in FY24; Wipro offers 85% variable pay

Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.

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Databricks to buy data management firm Tabular for over $1 billion

San Francisco, California-based Databricks, a data analytics platform using artificial intelligence, said Tabular's team of about 40 members will join it after the transaction is completed in its second quarter ending July 31.

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Monday, June 3, 2024

RBI, payment industry meet discusses contours of new draft PA guidelines

The digital payments industry representatives met with senior officials of the Reserve Bank of India to share their feedback on the recently released draft guidelines for payment aggregators. This comes when US payment giant Stripe seems to be withdrawing from the domestic payments market in India.

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InsuranceDekho set to get majority stake in BankSathi

Insurance marketplace InsuranceDekho, backed by investors like TVS Capital and Goldman Sachs Asset Management, will acquire a majority stake in BankSathi, which is a distributor of credit cards and personal loans, two people in the know said.

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Wipro's Switzerland head quits; Bruno Schenk to take over

Indian IT major Wipro on Monday appointed Bruno Schenk succeeds René Mulder, who joined Wipro in February 2021 and has decided to pursue opportunities outside Wipro.

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Sunday, June 2, 2024

Ola Electric eyes leaner road to profitability, to cut 400-500 roles

Ola Electric, eyeing an IPO, is reportedly trimming its workforce by 400-500 employees to streamline operations. This number may change as the senior leadership is still concluding the scale of the layoffs. They are expected to hit multiple verticals, sources told ET.

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PV Sindhu invests in biofortified staples brand Better Nutrition

PV Sindhu, Indian badminton player, has injected an undisclosed amount in Better Nutrition, a biofortified staples brand from Greenday that offers agri-input services such as biofortified seeds, fertilisers and agronomic practices.

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Saturday, June 1, 2024

IIT Bhubaneswar and ILS Join Forces for Technical Education and Research

Indian Institute of Technology (IIT) Bhubaneswar has partnered with the Institute of Life Sciences (ILS) Bhubaneswar through a memorandum of understanding (MoU) to collaborate on technical education and research. This collaboration aims to enhance excellence in fields such as biological sciences, molecular biology, and microbiology. With a special focus on developing vaccines for tuberculosis prevention, both institutes will conduct joint research projects and facilitate faculty collaboration and student training. Directors of both institutes expressed optimism about the potential impact on research and disease prevention efforts.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Hey Google! Who’s calling?

Google is testing a new AI-based scam call detection feature. However, its legality is in question, as profiling callers based on conversation content without their consent is not permitted in India. In 2021, one scammer in India was responsible for 202 million scam calls, which is about 27,000 fraud attempts every hour.

from Tech-Economic Times
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How video gaming in India is now a ‘Bharat’ phenomenon

The Indian video gaming industry is being catalysed by the exponential growth of India’s IT infrastructure, widespread adoption of smartphones and the proliferation of high-speed internet connectivity. The industry’s evolution is evident in the rising percentage of gamers from non-metropolitan areas, which jumped from 57% in 2022 to 66% in 2023.

from Tech-Economic Times
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Eye on AI: Tech giants form industry group, Apple-OpenAI deal and other top developments

Google, Microsoft, Intel and other tech companies have come together to take on chipmaking giant Nvidia. Apple partners with OpenAI. The ChatGPT maker is training its new flagship model to succeed GPT-4. Google is putting limits on AI search experience. French unicorn startup Mistral releases generative AI model for coding.

from Tech-Economic Times
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